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Tag Archives: Economic Value

A Live Science article, Obama: Key to Future Is Innovation by Robert Roy Britt, discusses Obama’s call for innovation through education and controlling health care costs, The problem is that the concepts are a little to vague and unfocussed. What we need most is innovation in value creation similar to that called for by Umair Haque who writes in the Edge Economy Blog about The Value Every Business Needs to Create Now. He advocates for thick value. Thin value is “built on hidden costs, surcharges, and monopoly power”, while thick value is “awesome stuff that makes people meaningfully better off”. As a country we either need people to shift to thick value or we need to start picking winners and losers with the loser coming from the ranks of the thin group. If we reduce the cost of health care, it has to come out of someone’s pocket unless that someone starts to create thick value.